Mexican Media Brands
Trump Reaffirms Threat of Tariffs on Cars from EU
President Donald Trump reiterated to reporters earlier today that he will impose tariffs on cars from the European Union if talks fail to produce a more balanced trade deal.
#economics #labor
Share
President Donald Trump reiterated to reporters earlier today that he will impose tariffs on cars from the European Union if talks fail to produce a more balanced trade deal.
Trump previously has threatened to impose import taxes as great as 35% on German brands, which account for most European vehicles sold in the U.S.
The president’s remarks confirm the widely assumed conclusion of last weekend’s still-secret report from the U.S. Dept. of Commerce: that imported European vehicles are a threat to national security.
The White House argues that if European-built cars weren’t shielded by unfair tariffs and trade practices, more of them would be built in the U.S. instead. Trump contends that equalizing trade rules would result in more jobs in the U.S.
German producers already make roughly 800,000 cars and crossover vehicles per year in U.S. factories. Much of that output is shipped out of the U.S. to other countries. But those carmakers also send more than 500,000 vehicles annually into the American market from plants located elsewhere.
RELATED CONTENT
-
on the Genesis GV60 interior, EV sales in H1, Bentley Bentayga's wood work, Faurecia's advanced manufacturing & more
The strange glowing orb in the Genesis GV60. . .global EV sales in the first half. . .creating wood for the Bentayga interior. . .the importance of material handling at Faurecia. . .lux ATPs. . .fast Porsche. . .fast Lambo. . .the Avalon Hybrid. . .Silverado steel. . .
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data
-
GM, Ford Evaluate Possible Economic Slump
General Motors and Ford say they have bolstered their cash reserves in case the trade war between the U.S. and China triggers a global recession.